The European Central Bank (ECB) president Mario Draghi announced that a new Euro banknotes will be introduce in May 2013 starting with the €5 banknote. The second series of the euro banknotes will be called “Europa” series and will be using portrait of Europa in the watermark and the hologram. Europa is Greek mythological figure, a Phoenician princess abducted by Zeus who gave the continent its name. The image of Europa is derived from a vase housed in the Musée du Louvre in Paris. The Europa series €5 banknote will be unveiled in full on 10 January 2013 and credit institutions will start to issue the new notes over the counter or via cash dispensers in May next year. Current euro notes, launched on 1 January 2002, would be gradually withdrawn from circulation.
Three new security features for the Europa series has been unveiled; the portrait watermark, portrait hologram and emerald number. For the €5 banknote emerald number security features, a coloured number ’5′ in the upper corner which similar to the larger denominations of notes will change colour from grey to emerald green when tilted. The Europa hologram will be appearing down the side of the notes. Europa will also replace architectural images in the watermark. Portraits have long been used in banknotes around the world and research has shown that people tend to remember faces Mr Draghi said. Other security features and final design of the banknote will be unveiled at an event in Frankfurt in March.
Like the first series, they will have the “ages and styles” design and the same dominant colours, but they have been modified to accommodate the enhanced security features. They will be easy to distinguish from the first series. The Europa series will have the same denominations as its predecessor, i.e. €5, €10, €20, €50, €100, €200 and €500, and they will be introduced in ascending order. Thus, the new €10 banknote will follow the €5. The first series will initially circulate alongside the new banknotes, but will gradually be withdrawn and eventually cease to be legal tender. The date when this occurs will be announced well in advance. However, the banknotes of the first series will retain their value indefinitely and can be exchanged at the Eurosystem NCBs at any time.
Here is a video about the event:
